SA rates heading for 4-yr high

[Sneeky]

Johannesburg - Expect to see South Africa's main repo rate hit 10% by this time next month - its highest rate in four years - as continued high consumer inflation and food prices on harvest concerns provide more than enough ammunition for the increase, said Moody's Economy.com on Friday.

http://www.fin24.co.za/articles/default/display_article.aspx?Nav=ns&ArticleID=1518-25_2150689

 

[Moederloos]

Screw the consumer for things outside his control - as if those outside factors were already not bad enough.
I almost hernia'd when I saw the price of butter (500g) - up from around R15 to just under R25!
FFS.

 

[vespax]

as continued high consumer inflation and food prices on harvest concerns provide more than enough ammunition for the increase

So raise the cost of living even more! That will fix inflation.

 

[Bageloo]

So raise the cost of living even more! That will fix inflation.

No, but it will damper the crazy spending...i.e. you'll think twice before buying that fancy car...or maxing that credit card limit...
Vehicle sales already started slowing down...

 

[skoob]

Screw the consumer for things outside his control - as if those outside factors were already not bad enough.
I almost hernia'd when I saw the price of butter (500g) - up from around R15 to just under R25!
FFS.

Dont let me get started on the cost of freaking groceries...Our shopping use to average +-R1000.00 (2 adults) now its averaging +-R2200.00.

My credit card is beginning to get burns on the either side...

Everything seems to be going up except salaries...

 

[Paul_S]

What worries me most isn't the prices but the fact that the poor are getting poorer and we have a huge influx of refugees from the rest of Africa.
Get ready for an even bigger increase in crime.